Verition Fund Management LLC reduced its stake in shares of Magnachip Semiconductor Co. (NYSE:MX – Get Rating) by 2.0% during the first quarter, Holdings Channel reports. The institutional investor owned 152,497 shares of the semiconductor company’s stock after selling 3,100 shares during the period. Verition Fund Management LLC’s holdings in Magnachip Semiconductor were worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its stake in Magnachip Semiconductor by 95.2% during the 1st quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 733 shares during the period. BNP Paribas Arbitrage SA raised its stake in Magnachip Semiconductor by 5,430.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,212 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 2,172 shares during the period. Ancora Advisors LLC bought a new stake in Magnachip Semiconductor during the 1st quarter valued at approximately $50,000. PenderFund Capital Management Ltd. bought a new stake in Magnachip Semiconductor during the 4th quarter valued at approximately $56,000. Finally, Covestor Ltd bought a new stake in Magnachip Semiconductor during the 1st quarter valued at approximately $65,000. 68.38% of the stock is owned by hedge funds and other institutional investors.
Magnachip Semiconductor Price Performance
NYSE:MX opened at $11.42 on Friday. Magnachip Semiconductor Co. has a 1 year low of $11.13 and a 1 year high of $22.28. The stock’s 50 day simple moving average is $13.50 and its two-hundred day simple moving average is $15.73. The company has a market cap of $512.76 million, a price-to-earnings ratio of 7.72, a PEG ratio of 1.45 and a beta of 1.10.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th.
Magnachip Semiconductor Company Profile
Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.
- Get a free copy of the StockNews.com research report on Magnachip Semiconductor (MX)
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